The problem is this will never happen, so you are just extending it forever, pointless...You think the war should stop? So do I, but not unless Russia withdraws from Ukraine.
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The problem is this will never happen, so you are just extending it forever, pointless...You think the war should stop? So do I, but not unless Russia withdraws from Ukraine.
Europe’s problems are not because of a lack of money. Europe is wealthy. It has plenty of money to fix its problems. What it lacks is the will to do it, and a coherent strategy.
Europe doesn’t have to choose between supporting Ukraine and fixing its problems. It can easily do both.
If Europe invested more in its own arms industry, it would create additional high paying jobs for qualified people like engineers and IT specialists, as well as blue collar jobs in manufacturing. The cost? Almost nothing.
You see, money is just a convention. Those billions of euros you keep hearing about, they are created out of thin air, by inventing a new credit that is added to already bloated balance sheets. It’s just accounting. Europe doesn’t need to take money from its population to finance Ukraine, because it is borrowing it.
You will ask, then why isn‘t Europe creating money to fix those other problems, like housing and healthcare? The thing very few people understand is that creating money out of thin air has different effects, depending on two major factors: who does it, and what does it do with it.
If a small country prints money to pay salaries and pensions, the immediate effect would be high inflation and currency devaluation. However, when Japan prints trillions of Yen just to rollover its debts, or when the US did repeated rounds of QE, you didn’t see the Yen or the dollar collapse, and neither rampant inflation. That’s because the money was not directed to consumption.
What creates inflation is money given to people in the form of wages, pensions or welfare payments. This is because that money immediately translates into additional demand for goods and services, raising the price. And when the additional demand boosts imports, it also devalues the currency.
But when the newly printed money is directed towards weapons production, the effect on inflation is negligible. Other than the jobs created in the sector, where some people earn higher wages and can spend more, the largest part of the spending goes itnto weapons production that end up blowing things in Russia.
The money just add-up in an accounting balance sheet, while Russia burns. Never in history a region/country had the opportunity to defeat one of its greatest adversaries by just adding numbers in a balance sheet without sacrificing anything else. Only people who are economically illiterate would pass such an opportunity.
The only cost for Europe if it decided to build more weapons would be a boost in the import of components, which could theoretically have a negative effect on the value of the Euro. But at this point, with so much Euro denominated debt hanging over Europe, and with such high wages keeping competitivity low, a little devaluation of the Euro would be more than welcome, especially if it came together with reindustrialization and technological research.
I come back to Europe every year, and I care a lot about it. And because I care about it, I don’t want my country to become Russia’s neighbour. I want Ukraine to recover its territory, as a buffer against the Russian threat. I want Transnistria to be disinfected, and the best case scenario would be for Russia to be expelled from Kaliningrad and for Belarus to be removed from Russia’s influence, and turned into a future EU member.
The more Russia is forced to retreat and more Eastern European countries join the EU, the better postioned my country becomes. I don’t want Romania to remain at NATO’s and EU’s periphery, with all the risks resulting from that. If Moldova and Ukraine would join, and Russia would be expelled from Crimea and the Donbass, Romania would suddenly be closer to Central Europe and further away from the periphery.
It’s easy for you to not care about the Russian threat, because Switzerland sits comfortably between friendly European countries. But for Romanians, Poles, Latvians, Lithuanians, Estonians, Norwegians or Finns, the Russian threat is real, and we want Russia to be torn into smaller states no longer capable to threaten us. It is pure geopolitics.
Uhm??? Higher prices? Money going into Ukraine that should be used to improve the situation here? Energy crisis? Housing crisis? Are you living in a fairytale world? Oh I forget you don't even live here so you just assume.How is this hurting Europe exactly? I haven’t seen factories or refineries burning in Europe (other than Ukraine, of course). The war has actually created new factories in Europe, that did not exist before the war.
Europe is now moving towards having its own satellite and communications independence, building its own long range missiles, and improving its drone technology. There’s nothing bad about that.
And crude oil remains almost half the price it was in 2007, despite the wars in Russia and Iran.
I mean, almost twenty years have passed, and oil is cheaper. Everything else is twice as expensive, yet oil remains cheper. Poor Russians….
Gennady Zyuganov, leader of Russia’s Communist Party and a State Duma deputy, has called for the immediate seizure of private bank deposits to address Russia’s budget deficit...
The biggest flaw of your whole argument is that those amazing enginners, IT specialists, manufacturing workers you say... they are a scarse resource, sure you can put them to develop weapons and military stuff... but how about you use all those people and all your FINANCIAL RESOURCES and put them into developing or building things like hospitals, arhitecture, roads etc etc.... where actual people actually HAVE SOMETHING out of that, instead of missiles, rockets and guns that are sitting in a warehouse until they expire... WEAPONS NEVER GENERATE FUTURE WEALTH, those are the most basic facts.
And weapons DO cause inflation... that money that goes to engineers, steelworkers and all those people, defense contractors... all those people go out into the world to buy groceries, gas, houses, electronics... meanwhile the supply of consumer goods didn't increase by 1 item, you have more money chasing the exact same amount of goods, thats inflation 1:1.
So no... having a bigger military and more weapons COST MONEY, it always has, so stop saying such nonsense.
Uhm??? Higher prices? Money going into Ukraine that should be used to improve the situation here? Energy crisis? Housing crisis? Are you living in a fairytale world? Oh I forget you don't even live here so you just assume.
Crimea is becoming untenable. It is now being starved of supplies. The 3 ferries being used to ship supplies from Russia via the Kerch crossing were reputedly put out of action or destroyed. The Kerch bridge has been weakened. Trains can no longer use it. The main road from the north running into Crimea is subject to attack by Ukrainian drones.
Sales of fuel to the public have been halted in Crimea. There are reports of marooned Russian tourists who arrived by car. There are reports of rolling power cuts. There are reports of shops starting to limit the amount of food that can be bought. There are reports of 80% of holiday bookings being cancelled. Tourism is a major industry in Crimea.
Whoever occupies Crimea will be in the same weak position so long as the war lasts: both Ukraine and Russia can lay siege to the peninsula. It seems probable to me that it is destined to become a no man's land for the foreseeable future.
nationalsecurityjournal.org